Carnival Corp.’s (CCL) “Buy” Rating Reiterated at Wells Fargo & Co.
A number of other research firms have also recently commented on CCL. Morgan Stanley cut Carnival Corp. from an equal weight rating to an underweight rating and cut their target price for the company from $54.00 to $48.00 in a research note on Friday, September 2nd. Tigress Financial raised Carnival Corp. from a neutral rating to a buy rating in a research note on Tuesday, May 31st. Sterne Agee CRT began coverage on Carnival Corp. in a research note on Tuesday, June 7th. They issued a buy rating and a $60.00 price objective on the stock. Nomura dropped their price objective on Carnival Corp. from $62.00 to $59.00 and set a buy rating on the stock in a research note on Tuesday, September 27th. Finally, Stifel Nicolaus reissued a buy rating and issued a $60.00 price objective on shares of Carnival Corp. in a research note on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $55.97.
Shares of Carnival Corp. (NYSE:CCL) opened at 48.82 on Wednesday. The company has a market cap of $35.64 billion, a price-to-earnings ratio of 15.18 and a beta of 0.80. The firm has a 50 day moving average price of $46.74 and a 200-day moving average price of $47.81. Carnival Corp. has a 12-month low of $40.52 and a 12-month high of $55.77.
Carnival Corp. (NYSE:CCL) last released its earnings results on Monday, September 26th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. The firm had revenue of $5.10 billion for the quarter. Carnival Corp. had a return on equity of 10.76% and a net margin of 15.10%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. On average, equities analysts expect that Carnival Corp. will post $8.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 24th. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. Carnival Corp.’s dividend payout ratio is presently 42.94%.
Hedge funds have recently modified their holdings of the stock. Capital Analysts LLC raised its stake in shares of Carnival Corp. by 3.7% in the second quarter. Capital Analysts LLC now owns 3,316 shares of the company’s stock valued at $147,000 after buying an additional 118 shares in the last quarter. Hall Laurie J Trustee raised its stake in shares of Carnival Corp. by 6.9% in the second quarter. Hall Laurie J Trustee now owns 3,550 shares of the company’s stock valued at $162,000 after buying an additional 230 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Carnival Corp. by 4.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the company’s stock valued at $182,000 after buying an additional 162 shares in the last quarter. Wunderlich Capital Managemnt raised its stake in shares of Carnival Corp. by 24.4% in the first quarter. Wunderlich Capital Managemnt now owns 3,684 shares of the company’s stock valued at $194,000 after buying an additional 723 shares in the last quarter. Finally, Intrust Bank NA acquired a new stake in shares of Carnival Corp. during the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 77.99% of the company’s stock.
About Carnival Corp.
Carnival Corporation is a leisure travel company. The Company is a cruise company and provides vacations to cruise destinations throughout the world. The Company aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) segments.
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